The extension agreement allows both company’s additional time to address regulatory issues and define a date either party can terminate the agreement without penalty. Currently, the Committee on Foreign Investment in the United States (CFIUS) agreed to accelerate their review over the next 45 days. Their concern is around data security and privacy which both companies believe they have mitigated by utilizing a U.S. based third-party data security company to house and control all data.
The merger needs clearance from the CFIUS, but also regulatory approvals in the U.S., China, and other international jurisdictions where Genworth has a presence.
At LTC Consumer, we specialize in professional long term care planning for individuals and families. Our LTC Specialists shop the market to find the best deal for our clients. As the market changes, we’ll keep you updated with all the details you need to know.